I stand to be corrected but as far as I'm aware most retirees owning a house/apartment in say Benidorm, Mallorca or Malaga area etc are largely unaffected by the 'Euro-Crisis'. They have no mortgage or rents, they still have their pension to live off and generally no income at risk.
For the most part wasn't it younger folks or families who were tempted by a life in the sun that found it almost impossible to sustain an adequate income ?